There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Tuesday, December 17, 2013

17122013

Nifty gaped up above PDH. Counter trend outside gap. Went long on the break of first master candle. I was very confident about the trade but it failed. Thought of going short when third time TST occurred but hesitated to pull the trigger.Later Nifty traded in a tight trading range. Shorted the BOF of range high. Price broke PDC as well as PDL. Exited when market started chop.
@ Kavi. Second trade is your pattern. Isn't it ? Hope you traded it

26 comments:

I took the first trade that u mentioned.But having seen a DB formation and market having broken back into the range,i did not have the courage to short at the point where u shorted.Besides,tomorrows fed meet and monetary policy weighed on my mind.Curious to know your thoughts.

Thanks a lot for citing it. It gives a nice feeling to see my name. Today I was busy with my job so could not do trading. Indeed, it was a nice trade, right into the flip zone. Noted the ranges, one after another, breaking down, i.e. (i) initial range, then break down to (ii) range between BRN and 6190, and then this (iii) range. Slowly and gradully learning about these ranges and started believing "Markets are always in ranges." All thanks goes to you. Without your guidance it would not have been possible.

Sir,I went long in 13:08:59 bar thinking that shorts might have been trapped in 13:02:59 bar by seeing the volumes which will take my trade to BRN. Completely overlooked the Flip zone. Stopped in the same bar in which you went short and missed the whole down move.

Today, Icharts first 3 min. candle data was not showing open/high correctly. You can check 30 sec. chart. First two candles are missing. I usually note first 10-15 secs. ATP from terminal and take it as open. It was 6208.5. Will you take first long trade if open was 6208/6209? or short BOF of DH/DO at 09.35.59?Thanks,VVSP.